McKinley Carter Wealth Services Inc. Reduces Position in The Hershey Company (NYSE:HSY)

McKinley Carter Wealth Services Inc. lowered its position in The Hershey Company (NYSE:HSY) by 16.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,335 shares of the company’s stock after selling 261 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Hershey were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Foster Victor Wealth Advisors LLC purchased a new stake in Hershey in the 4th quarter valued at $6,230,000. Robeco Institutional Asset Management B.V. grew its position in Hershey by 1.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 11,516 shares of the company’s stock worth $1,950,000 after purchasing an additional 190 shares during the last quarter. Hutchens & Kramer Investment Management Group LLC increased its stake in Hershey by 16.8% in the fourth quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,436 shares of the company’s stock valued at $243,000 after purchasing an additional 207 shares during the period. Court Place Advisors LLC purchased a new stake in shares of Hershey in the fourth quarter valued at about $244,000. Finally, Buttonwood Financial Advisors Inc. boosted its stake in shares of Hershey by 4.4% during the fourth quarter. Buttonwood Financial Advisors Inc. now owns 3,298 shares of the company’s stock worth $559,000 after buying an additional 139 shares during the period. 57.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HSY has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price objective on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Piper Sandler cut their price target on Hershey from $168.00 to $153.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Jefferies Financial Group decreased their price target on Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a report on Tuesday, January 21st. Citigroup dropped their price objective on shares of Hershey from $165.00 to $159.00 and set a “sell” rating on the stock in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company reduced their target price on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Six analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $171.79.

Hershey Stock Performance

HSY opened at $149.41 on Thursday. The stock’s 50 day simple moving average is $168.39 and its 200 day simple moving average is $182.73. The stock has a market cap of $30.23 billion, a P/E ratio of 17.21, a P/E/G ratio of 4.28 and a beta of 0.38. The Hershey Company has a 1-year low of $147.60 and a 1-year high of $211.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s dividend payout ratio is currently 63.13%.

Hershey Profile

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.